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COMPETITION WATCH: Mullen closes previously announced acquisitions

ALDERSYDE, Alta. -- The Mullen Group Income Fund has finished the deals of three previously announced acquisitions.


ALDERSYDE, Alta. — The Mullen Group Income Fund has finished the deals of three previously announced acquisitions.

The largest of these acquisitions involved Spearing Service. A private company based in Oxbow, Sask. Spearing’s business involves the hauling of crude oil, produced water and other fluids associated with the production of crude oil. It owns and operates a fleet of approximately 60 units from its terminals in Oxbow and Carlyle, Sask. and Pipestone, Man.

“Spearing is an outstanding company that strengthens our position in the fluid hauling business in western Canada. I am also very pleased that the two principles of Spearing, Don Spearing and Trevor Spearing, have both agreed to remain with the company to oversee its ongoing operations,” said Stephen H. Lockwood, president and co-CEO of Mullen.

The fund’s second acquisition involved Burnell Contractors. Burnell is a Calgary based company involved in providing specialized transportation services to the energy, pipeline, petrochemical and construction industries.

“The acquisition of Burnell comes at a time when we are seeing a strong demand for specialized heavy haul transportation in western Canada and is very complimentary to our Premay Equipment and Mullen Trucking operations,” commented Lockwood. “We are also very pleased that Alan Burnell has agreed to remain with the company to oversee its on-going operations and that Howard Burnell has agreed to consult with the fund in matters involving the heavy haul business.”

The final acquisition that closed involved C. Steen Trucking, a flat deck carrier based in Edmonton, Alta. C. Steen will continue to operate from its Edmonton facility as a division of Payne Transportation.

“The acquisition of C. Steen capitalizes on the opportunities we see in trucking and is consistent with our strategy of expanding our Trucking segment,” stated Lockwood.


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